Price stability

With the stabilization of capital inflows and reversal of dollarization trend in deposit/participation funds, the Turkish Central Bank will increase its reserves through auctions, the governor said on Feb. 9. 

"When the conditions are mature enough, we will share our plan for this with the public in an open and transparent manner," Naci Ağbal told a meeting with economists.

Turkish Central Bank Gov. Naci Ağbal said the economy has lost some pace recently but signs that Turks are shifting toward lira assets suggests a reversal in dollarization may come.

"We are working day and night to achieve lasting price stability," Ağbal told Reuters in an interview.

"We know we are in a difficult period."

The Turkish Central Bank has decided to establish three new divisions in a bid to adapt its organizational structure to its priorities, according to a statement issued by officials on Feb. 4. 

Under its Structural Economic Research Department, the bank will form a division in charge of analyzing developments in the food and agricultural product markets.

Turkey posted a 14.97% annual rise in consumer prices in January, the country's statistical authority announced on Feb. 3. 

The annual figure was up 0.37 percentage points last month, rising from 14.60% in December 2020, according to the Turkish Statistical Institute (TÜİK).

The inflation rate in January 2020 stood at 12.15%, data showed.

Turkey's central bank on Dec. 24 hiked its main interest rate by two percentage points to 17 percent and promised further monetary tightening to help tamp down soaring inflation.

Turkey's Central Bank governor on Dec. 16 said the risk of upward inflation will require a tight, decisive monetary policy stance in 2021, adding that it will be tightened if needed.

Turkey posted a 14.03% annual hike in consumer prices in November, the country's statistical authority said on Dec. 3. 

Annual inflation rate rose 2.14 percentage points in November, up from 11.89% in October, according to the Turkish Statistical Institute (TÜİK).

The consumer price index saw a 2.30% monthly increase, it added.

Romania's annual inflation rate fell to 2.3% in May 2020, from 2.7% in April, given that food prices rose by 5.25% , services by 2.6%, and non-food goods by 0.15%, according to data released on Friday by the National Institute of Statistics (INS). Consumer prices in May 2020 compared with April rose by 0.05%, and compared with December 2019 they advanced 1.47%.

The consumer price index in March 2020 compared to February 2020 was 99.4%, i.e. the monthly inflation was -0.6%. The inflation rate since the beginning of the year (March 2020 compared to December 2019) has been 0.4% and the annual inflation in March 2020 compared to March 2019 was 3.0%.

The annual inflation rate kept steady at 3 percent this March, as food grew by 5.11 percent more expensive, service prices advanced 3.8 percent and non-food prices went up 1.39 percent, shows data released on Friday by the National Institute of Statistics (INS). March 2020 consumer prices were 0.5 percent higher compared to February and 1.16 percent up from December 2019.